Larry Hatheway, the chief economist at $150 billion GAM Investments, says the US stock market has reached a stage where it's beyond its peak.
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The Boeing 777 and the 787 Dreamliner are two of hottest selling wide-body airliners in the world.The dynamic duo has effectively supplanted the iconic 747 jumbo jet as the Boeing's go-to plane for long-haul flying.
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Pattern Energy Group (PEGI) saw its shares rise by +7% the day after it posted much improved Q3 results.
The renewable power company hit a rough patch over the last couple of years, owing largely to a string of acquisitions.To stabilize its financial situation, the company had to stop its pay-out increase in 2018, after increasing its dividend for 15 straight quarters.
However, a much-improved performance in the Q3, coupled with a few strategic moves during the quarter, have brought the company back on track to achieve its growth target.
PEGI increased its power sales by 7% to 1,623 GW, compared to 1,514 GW in Q3 2017.
Share prices of Gulfport Energy Corporation (GPOR) soared by more than +10% in Monday’s trading session.
This sudden surge may have owed to GPOR’s strong third-quarter results, but the major catalyst was arguably the big uptick in natural gas prices due to colder weather forecasts.
As weather forecasters predicted a blast of cold air could hit the U.S. this week, natural gas prices surged by ~8% in Monday’s early-morning trading -- in expectation of much higher heating demand than previously expected.As a result, natural gas prices traded higher by 7.5% to $3.53 MMBtu on Monday and are now up +18% year-to-date.
Cooler temperatures across the Great Plains and Midwest are expected to bring more rain and snow in the region, which in turn is likely to fuel increased demand for natural gas to heat homes.
Chesapeake Energy Corporation (CHK) shares plunged by -23.4% in October, as per data provided by S&P Global Market Intelligence.
The sell-off was largely fueled by the surprising decision and the subsequent announcement by CHK to buy Wildhorse Resource Development (WRD, $22.80) for nearly $4 billion, for a combination of cash and stock.
As per the company, the deal is expected to help bolster its presence in the oil-rich Eagle Ford Shale along with the opportunity to double its production capacity by 2020.It is also expected to help accelerate the execution of CHK's deleveraging plan.
As long as owners know their private key – the permanent password generated upon creation of a new cryptocurrency wallet – their holdings are safe, accessible only to them.But what happens to the crypto left behind when you die if no one knows how to access it?
Passing cryptocurrency on to loved ones is unlike bestowing cash, jewelry, or other physical possessions, as detailed in an essay in Quartz’s Private Key crypto newsletter.
Taxes will be lower for most people this year because of the GOP’s tax bill passed last December.But taxpayers have yet to reap the gains.
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FedEx will be hiking rates by an average 4.9% as of January 7, 2019.
The courier delivery company had implemented a similar increase at the start of 2018.That means, there is a burgeoning volume that courier services have to meet and manage - something that could potentially increase total costs for courier firms, and therefore induce them to hike rates as a way to cushion their profitability.
Also, potential competition from e-commerce firm Amazon which is starting its own delivery business, could add further pressure on FedEx’s (or other delivery service firms') margins. Its competitor United Parcel Service might also increase rates by an average 5.9%, subject to government approval.
(according to Nikkei Asian Review citing anonymous sources).
Apple is reportedly asking suppliers for more of the older models, iPhone 8 and iPhone 8 Plus, which are up to 20% cheaper compared to the XRs whose starting price is $749.From previously expected 20 million units of the older models this quarter, Apple has raised the figure to 25 million units, according to a source (as reported by Nikkei Asian Review).
This holiday season, Amazon gifts shoppers free shipping on all orders .
The Christmas offer, starting Monday, waives the minimum purchase limit of $25 that otherwise applies to non-Prime users.The e-commerce giant’s Prime members get free delivery at other times as well, on eligible orders without a minimum purchase requirement.
Amazon’s holiday incentive to shoppers comes at a time when its competitors like Target are also strategizing to milk the season’s consumer demand potential.
In yet another sign of retail struggle, Lowe's Companies, Inc. is shuttering 20 underperforming stores in the U.S and 31 in Canada.
The home improvement chain will be completing the latest store closures before February 1, 2019, while trying to shift workers to other locations to help them still remain employed within the company if they choose to.Previously this year, Lowe’s announced plans to close down all of its 99 Orchard Supply Hardware stores by end of the fiscal year, while also promising to give affected employees priority should they apply for other openings at the company and also to provide them job placement assistance and severance.
Advanced Micro Devices (AMD) has been one of the most volatile stocks of 2018 with a beta at 4.06.Beta is a measure of volatility where the market has a beta of one, and beta greater than one indicates high volatility.
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For comparative purposes, the Invesco QQQ Trust (Nasdaq: QQQ) fell 8.6% in October and was down 12.14% before the bounce.
One chip stock that got hit extremely hard during the month was Advanced Micro Devices (Nasdaq: AMD).The stock is bouncing back this week.
Looking at the weekly chart we can see that the stock peaked at $15.55 in February 2017 and at $15.65 in July 2017.
US headquartered high-efficiency PV module producer, SunPower Corp, issued a "going concern" notice after its dismal Q3 results.This gave rise to speculations over whether the company is slowly advancing towards filing for bankruptcy.
Over the last few quarters, the company has been reporting a continuous decline in its gross margins along with increasing net losses.
Last Thursday’s trading session saw shares of General Electric (GE) shares drop below the $9.80 mark, which was their lowest level since April 2009, on the back of concerns surrounding increased tax liability for the company.
GE’s shares dropped by another 4% on Thursday as market analysts voiced their expectation that the near near-term tax liabilities of the company are set to rise significantly.
As per the Tax Cuts and Jobs Act, the company owes as much as $9 billion in taxes whereas the company took into consideration only $3.3 billion in charges while citing various offsetting for the rest.Now ,if some of the ‘offsets’ are disallowed, the company could wind up owing a large tax bill near term.
Considering the present situation of the company, with cash flows weakening and fundamentals of the power segment declining and a rising funding cost of GE Capital as the company was forced out of the commercial paper market – this additional tax burden is taking a heavy toll on th
Apple Inc.'s stock price dropped -7.1% on Friday, sending its value to below $1 trillion.
This come just a day after its earnings report revealed that 46.89 million iPhones were sold during the quarter ended Sept. 30, which was below analysts' expectations.Apple also lowered expectations on holiday sales.
Friday’s stock price loss led to a -10% decline from its recent high.
On Friday, ExxonMobil reported a +57% jump in its Q3 profit which reached $6.24 billion, on the back of surging production from Permian Basin of Texas coupled with oil price spikes.
Its per-share profit came in at $1.46 - versus analysts' estimate of $1.23 a share (according to Refinitiv).What could further boost the outlook on the company is its increased cash flow from operations to $11.1 billion – a four-year high.
Its overall oil and gas production, however, reduced by -2% from previous year, mainly due to declining natural gas volume.
A Bloomberg report further suggested that Trump has asked his team to delineate terms of a proposed trade deal with China ahead of the President’s meeting with Xi at the G20 leaders summit in Buenos Aires later this month.A spokesperson for China's Ministry of Foreign Affairs said on Friday, "I hope teams from both sides can implement the agreements achieved by the two countries' leaders".
Talks of talks between the two nations seemed to uplift Asia's major stock indexes on Friday.
Shares of DowDuPont jumped ~8% last Thursday, after the conglomerate reported earnings above analysts’ expectations for the third quarter.An announcement of the new share buyback plan worth $3 billion also helped boost the share price.
Joining the likes of IBM and Royal Dutch Shell, the company during its earnings call said that it would buy back about 2% of its equity shares.
Although revenue of $20.1 billion was slightly below the estimate of $20.23 billion, the company reported a better-than-expected adjusted earnings of 74 cents per share.
The Texas-based energy giant, Exxon Mobil Corp, hasn't been able to garner too much excitement among the investor community ahead of its third-quarter earnings report on Friday.Shaky previous quarterly results are to blame.
Analysts have nevertheless given an average price target of $89.63, representing 20% upside over current share prices.